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Development Agreement with Housing Authority of CMB • oiele y ,? g //i111 This instrument was prepared by (record and return to) Name: Raul Aguila, Deputy City Attorney Address: Office of the City Attorney City of Miami Beach 1700 Convention Center Drive Miami Beach, FL 33139 (Space reserved for Clerk) EXECUTION COPY DEVELOPMENT AGREEMENT THIS DEVELOPMENT AGREEMENT (the Agreement) is made and entered into as of the Lay of $lNiC/ 2011, by and between the CITY OF MIAMI BEACH, a Florida municipal corporation (the City), and the HOUSING AUTHORITY OF THE CITY OF MIAMI BEACH, a Florida public housing authority (the Owner or HACMB). The Commencement Date of this Agreement is the date of approval by the City Commission of the City of Miami Beach, or September 15, 2010. Introduction and Background A. The property that is the subject of this Agreement lies in Miami Beach, Miami -Dade County, Florida. This Agreement, among other things, is intended to and shall constitute a development agreement among the parties pursuant to the Florida Local Government Development Agreement Act (the Act). B. The Owner owns certain real property in the City of Miami Beach, located at 1231 -1251 17 Street, and as more specifically delineated as Parcels A, B, and C in the sketch attached as Exhibit "A" hereto (Parcels A, B, and C may hereinafter collectively be referred to as the HACMB Property or the Property). C. The Owner intends to develop Parcel C as an affordable elderly housing development with some ground level, neighborhood- oriented commercial space (the HACMB Project). D. In order to connect Dade Boulevard and West Avenue, and thereby relieve some of the congestion caused by traffic in the surrounding area, the City is desirous of constructing a public street for pedestrian and vehicular access, which street would include a bridge, over Parcels A and B (the West Avenue Bridge Project). E. In order to proceed with the West Avenue Bridge Project, Owner has agreed to grant to City, and City has agreed to purchase from Owner, a perpetual easement on and over Parcels A and B (the City Easement). - 1 - F. As further consideration for Owner granting the City Easement to City, the City and Owner have hereby agreed to certain other terms and conditions, pertaining to the HACMB Project as set forth in this Agreement. Owner and City have entered into and executed a purchase and sale agreement for the City Easement, which agreement was approved by Owner on June 22, 2010, pursuant to HACMB Resolution No. 2010 -14, and by the City on September 15, 2010, pursuant to City Resolution No. 2010- 27451; and which agreement is attached and incorporated as Exhibit "B" hereto (hereinafter, the "Purchase and Sale Contract"). G. The City is a Florida municipal corporation with powers and authority conferred under the Florida Constitution, the Municipal Home Rule Powers Act, Florida Statutes, and the Miami Beach City Charter and Code. The City has all governmental, corporate, and proprietary powers to enable it to conduct municipal government, perform municipal and governmental functions and render municipal services, including the authority to adopt, implement and enforce (together with any required governmental approvals) comprehensive plans, zoning ordinances, redevelopment plans, and other police power and legislative measures necessary to assure the health, safety and general welfare of the City and its residents and visitors. H. Owner is a public housing authority organized and created pursuant to the Housing Authorities Law of the Florida Statutes. I. Having fully considered this Agreement at two (2) duly noticed public hearings, in compliance with Section 163.3225 of the Act; and having further determined that it is in the City and Owner's best interest, as well as the public's interest, to deal with the issues covered by this Agreement in a comprehensive manner, in compliance with all applicable laws, ordinances, plans, rules and regulations of the City, while allowing the City and Owner to proceed, respectively, with the development of the West Avenue Bridge Project and the HACMB Project in accordance with existing laws and policies, subject to the terms hereof, the parties have agreed to enter into this Agreement. NOW, THEREFORE, in consideration of the foregoing, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby agree as follows: 1. Recitations. The foregoing recitations are true and correct and are incorporated herein by this reference. 2. Authority. This Agreement is entered into pursuant to the authority and procedures provided by the Act. 3. Definitions. All capitalized terms in this Agreement shall have the definitions set forth in this Section unless such terms are defined elsewhere in the body of this Agreement. -2- ■ 3.1 "Act" shall mean the Florida Local Government Development Agreement Act (Section 163.3220, et. seq., Florida Statutes (1997)). 3.2 "Building Permit" means a "Full Building Permit," as such term is defined in the City's land development regulations, issued by the City's Building Department, which allows building or structures to be erected, constructed, altered, moved, converted extended, enlarged, or used, for any purpose, in conformity with applicable codes and ordinance. 3.3 Intentionally omitted. 3.4 "City Easement" shall mean a perpetual easement for the West Avenue Bridge Project, which shall provide, without limitation for the design, development, construction, operation, maintenance, repair, renovation, and improvement of a public street, including a bridge, for vehicular and pedestrian access, on, over and across the City Easement Area (as hereinafter defined); and which Easement shall be substantially in accordance with the form attached as Exhibit "C" hereto. 3.5 "City Easement Area" shall mean all of the area of Parcels A and B, as more specifically described in Attachment "A" of the City Easement. 3.6 Intentionally omitted. 3.7 "Comprehensive Plan" shall mean the comprehensive plan which the City has adopted and implemented for the redevelopment and continuing development of the City pursuant to Chapter 163 Part II, of the Florida Statutes. 3.8 "Development Approvals" shall mean all Development Permits and all approvals, consents, permits, special use exemptions or variances, as well as other official actions of the federal, state or County governments or other governmental agencies. 3.9 "Development Permits" shall mean any building permit (including, without limitation, a Full Building Permit), zoning permit, subdivision approval, zoning certification, special exceptions, variances issued or granted by the City or any other official actions of the City (whether by the City Commission or any City board, department or agency) having the effect of permitting the development of the HACMB Project. 3.10 Intentionally omitted. 3.11 "HACMB Project" shall mean the design, development, construction, operation, maintenance, repair, renovation, and improvement by Owner of that certain affordable elderly housing project, with some ground level, -3- neighborhood- oriented commercial space, to be situated on and over Parcel C, subject to and in compliance with the following conditions: (a) the maximum total square footage of floor area permitted upon Parcel C shall not exceed 81153.60 square feet (subject to Survey verification), measured in accordance with the requirements of the City's land development regulations. (b) For purposes of the computation of the maximum floor area of Parcel C, as set forth in subsection (a) hereof, Owner may include the City Easement in the calculation of the square footage of Parcel C. The provisions of this subsection (b) shall survive expiration of this Agreement. (c) Upon approval of this Agreement and execution by the parties hereto, and as a condition of Closing, Owner shall execute and deliver, for review and approval by the City's Planning Director, a covenant, or covenant in lieu of unity of title (as determined by the City's Planning Director), for the Property. The provisions of this subsection (c) shall survive expiration of this Agreement. (d) The Project shall be designed, developed, and constructed, at the sole cost and expense of Owner, as an affordable housing development. Provided that Owner obtains all requested Development Approvals to do so the Project shall be designed and proposed to be constructed substantially in accordance with the proposed concept plan prepared by Owner's architect, Ari Sklar, and attached as Exhibit "D" hereto (the Concept Plan). Upon execution of this Agreement by the parties hereto, the City Commission shall be deemed to have approved the attached Concept Plan. (e) The parties agree and acknowledge that the setbacks in the Project, as proposed in the approved Concept Plan, may require the issuance of a variance(s) by the City's Board of Adjustment; which variance, if required, shall be supported for approval by the City Administration, but subject to final approval by the Board of Adjustment, acting in its governmental capacity, in accordance with the provisions of Section 9.4 hereof. (f) Any material deviation (as determined by the City's Planning Director) in any of the conditions described in subsection(s) (a) — (e) above, or in the approved Concept Plan, shall require the approval of the City Commission and a written amendment to this Agreement; (g) Any non - material changes (as determined by the City's Planning Director) which are required by any City land use board (including, without limitation, the Design Review Board, the Historic Preservation Board, the Board of Adjustment, and the Planning Board, as applicable), or any other applicable board, agency, or authority, or any non - material changes which are initiated by Owner, shall not require the approval of the City Commission. -4- (h) Any technical changes in the approved Concept Plan not governed by subsections (f) and (g) above, and which are (i) required in order for the HACMB Project to be in compliance with any and all applicable laws, codes, rules and regulations of any governmental - or regulatory - agencies including, - without- - - limitation, the Florida Building Code and the Americans with Disabilities Act _ (ADA), or (ii) otherwise required or necessary including, without limitation, any changes in connection with ingress and egress and public works, shall be delegated to the appropriate government official of the City for review and approval of such technical changes. 3.12 "HACMB Property (or the "Property ") shall mean the parcel of real property described in Exhibit "A" hereto; provided, however, that from and after the Closing, the Property shall include all of the City's right, title, and interest in and to the City Easement. 3.13 "Closing" shall mean the closing for the purchase and sale of the City Easement, pursuant and subject to the terms of the Purchase and Sale Contract, and as also provided in Section 11.1 of this Agreement. 3.14 "Purchase and Sale Contract" shall mean the agreement approved by and entered into between City and Owner for purchase and sale of the City Easement. 3.15 Intentionally omitted. 3.16 Intentionally omitted. 3.17 Intentionally omitted. 3.18 Intentionally omitted. 3.19 Intentionally omitted. 4. City Easement. The City Easement shall be granted by the Owner to the City at the Closing and shall be substantially in accordance with the form attached as Exhibit "C" hereto. Said grant shall not be affected by the expiration, termination or other treatment of this Agreement and shall be deemed a perpetual easement in accordance with the terms of said instrument. 5. Intentionally omitted. 6. Intentionally omitted. 7. Intentionally omitted. -5- 8. West Avenue Bridge Project. Subject to and contingent upon Closing and the grant of the City Easement, the City shall design, develop, and construct, at its sole cost and expense, the West Avenue Bridge Project, subject to and in compliance with the following conditions: (a) City shall direct the design, development, and construction process; be responsible for entering into all contracts necessary for the design, development, and construction of the Project; secure all required permits and approvals for the Project; and shall have any and all other sole authority, as City deems necessary in its sole and reasonable judgment and discretion, to direct the means, manner, and method of the design, development, and construction process. (b) The Project shall provide for, contain, and/or otherwise comply with those specific requirements, as set forth in Exhibit "E," attached and incorporated hereto. 9. Zoning and Other Approvals for HACMB Project. 9.1 Development Permits. Certain provisions of this Agreement will require that the City and/or its boards, departments, or agencies take certain governmental actions, acting in their governmental capacity, and issue Development Permits in order to accomplish and satisfy the authorization and construction of the HACMB Project: 9.2 Applications for Development Approvals. Promptly following the Commencement Date, the Owner will initiate and diligently pursue all Development Approval applications for the HACMB Project. The City shall process all Development Permit applications in a timely fashion and the City shall cooperate with the Owner (at no cost to the City) in processing all necessary Development Approvals from federal, State, and County agencies, as needed. No extension of any time period herein shall be deemed to be an extension of any time periods contained within the Development Approvals. 9.3 Laws Governing this Agreement. The City's laws and policies governing the development of the HACMB Project at the time of the execution of this Agreement by the parties hereto shall govern the development of the Project for the duration of this Agreement. The City may apply subsequently adopted laws and policies to the HACMB Project only as otherwise permitted or required by the Act. Except as required by Chapter 163, Florida Statutes, the HACMB Project may proceed for the life of this Development Agreement and is vested as to the rights provided herein. Additionally, the HACMB may modify the HACMB Project based upon future (i.e. subsequent to the Commencement Date) beneficial changes in the City Code. -6- 9.4 Comprehensive Plan, Zoning and Other Approvals. As provided above, the parties recognize and agree that certain provisions of this Agreement will require the City and/or its boards, departments, or agencies, acting in their governmental capacity, to consider governmental actions, as set forth in this Agreement. All such considerations and actions shall be undertaken in accordance with established requirements of State statutes and City - ordinances, in the exercise of the City's jurisdiction under the police power. The parties further recognize and agree that these proceedings shall be conducted openly, fully, freely and fairly, in full accordance with law and with both procedural and substantive due process to be accorded the applicant and any member of the public. Nothing contained in this Agreement shall entitle the Owner to compel the City to take any such actions, save and except the consents, if applicable, to the filing of such applications for Development Permits or other required Development Approvals, as more fully set forth herein, and to timely process such applications. 9.5 Owner shall be solely responsible for obtaining all Development Approvals and Development Permits for the Project. 9.6 Owner shall, at its sole cost and expense, commence construction on or before 120 days of obtaining all Development Approvals and Development Permits necessary for the HACMB Project are issued (the Construction Commencement Date). For purposes of this Agreement, "commencement of construction" means the commencement of major work (such as piling or foundations) for construction of the Project. Any and all preliminary site work (including, without limitation, any environmental remediation and ancillary demolition) shall not be deemed to be commencement of construction. 9.7 Owner shall, at its sole cost and expense, prosecute construction of the Project with diligence and continuity to completion. Completion of the Project, as evidenced by the issuance of a Certificate of Completion (C.C.) or Certificate of Occupancy (C.O.), as applicable, for the Project, shall occur no later than the date that is five (5) years after the Commencement Date (the Completion Deadline). 10. Owner's Right of Termination Prior to Commencement of Construction. Notwithstanding anything to the contrary contained herein, Owner shall have the right to be released from its liability and obligations (except, the obligation to grant and convey the City Easement to City), and to terminate this Agreement by providing written notice to the City prior to the Construction Commencement Date because: (a) changes to the Project required as a condition to the issuance of any Development Approval or Development Permit render the Project economically unfeasible in the reasonable business judgment of Owner; or -7- (b) the Project cannot meet concurrency requirements under section 163.3180, Florida Statutes, or the costs of concurrency mitigation are, in the reasonable business judgment of Owner, economically unfeasible; or (c) Owner, after good faith efforts, has been unable _ to obtain a Full Building Permit for the Project. (d) Owner lacks funding to do the HACMB Project; (e) the HACMB Project, as contemplated by HACMB, does not, or cannot, comply and/or meet with, and/or does not, or cannot, otherwise receive all or any portion of the required approvals (including, without limitation, any conditions and or requirements imposed upon the Project by Federal, State, or County funding sources) or permits; or (f) opposition to the HACMB Project by the surrounding neighborhood and, in particular, the immediate surrounding residential area in and around the proposed site of the Project; or (g) the HACMB decides to sell the property to a third party. In such event, and provided that the Closing occurs, HACMB shall still be required to grant and convey the City Easement to City, but it is the intent of the parties that the Floor Area Ratio of Parcels A and B could be utilized by any subsequent purchaser of Parcel C; or (h) the HACMB Project, as contemplated by HACMB, exceeds the Project budget acceptable to HACMB. In the event of termination of this Agreement pursuant to this Section 10, each party shall bear its own costs and expenses incurred in connection with this Agreement, and neither party shall have any further liability to the other (except, provided the Closing occurs, HACMB shall be obligated to grant and convey the City Easement to City; which obligation shall survive termination of this Agreement). 11. Conditions to Closing. 11.1 Notwithstanding anything to the contrary contained herein if, during its due diligence review of the West Avenue Bridge Project (the Due Diligence Period), the City determines that it would not be in the City's best interest to proceed with the Project due to any or all of the following conditions: a.) lack of funding; b.) the Project, as contemplated by City, exceeds the Project budget acceptable to City; -8- c.) the Project, as contemplated by City, - does not, -or cannot, - comply and/or meet with, and/or does not, or cannot, otherwise receive all or any portion of the required approvals (including, without limitation, any conditions and or requirements imposed upon the Project by Federal, State, or County funding sources) or permits; or - _- d.) opposition to the Project by the surrounding neighborhood and, in particular, the immediate surrounding residential area in and around the proposed site of the Project; or e.) any or all of the conditions precedent to Closing, as set forth in the Purchase and Sale Contract, are not satisfied; or f.) notwithstanding subsection (e) above, the Purchase and Sale Contract is terminated or otherwise declared null and void, in accordance with provisions thereof; Then the City may elect not to proceed with the Closing and to terminate this Agreement by providing written notice to Owner, prior to the conclusion of the Due Diligence Period (as set forth below), and neither party shall have any further rights or obligations under the Agreement; provided , however, that to the extent that applications of Owner seeking any Development Approvals for the HACMB Project are still pending hearing (or appeal) as of the date of termination of this Agreement, then at Owner's option, the Agreement may be extended for an additional six (6) month period; provided further Owner has given City written notice of same within thirty (30) calendar days from the initial date of termination. Notwithstanding the preceding, in the event that Owner elects the option to extend the Agreement, and timely notifies the City of such election (as provided above), and whether or not Owner has obtained all of the Development Approvals, for the Project, then this Agreement shall automatically terminate at the end of the extension period, and the parties shall have no further obligations under this Agreement. The City's Due Diligence Period shall be the period of time referred to as the "Inspection Period" in the Purchase and Sale Contract. The Inspection Period is one year from the Commencement Date; to wit September 15, 2011. 12. Title; No Subordination. At the Closing, Owner shall grant the City Easement, free and clear of all liens, encumbrances, rights of occupancy, or other matters. Thereafter, the City Easement including, without limitation, all or any portion of Parcels A or B, shall not be subject or subordinate to (a) any mortgage, whether now or hereafter existing; or (b) any other liens or encumbrances hereafter affecting the Property and/or the HACMB Project. -9- 13. "As Is" Condition. Subject to Closing, the City agrees to accept the City Easement, Area, with the underlying land and improvements (if any), in "AS - IS" condition. 14. Affordability Period; Restrictive Covenants Amendment to City's Land Development Regulations. 14.1 Affordability Period; Restrictive Covenant. Owner expressly agrees and covenants that the HACMB Project shall be operated as an affordable housing project for a minimum of thirty (30) years, which period shall commence upon the issuance of a Certificate of Completion (C.C.) or Certificate of Occupancy (C.O.), as applicable, for the Project (the Affordability Period). Prior to, and as a condition to the issuance of a C.C. or C.O. for the Project, Owner shall execute and deliver a Restrictive Covenant to City, substantially in accordance with the form attached as Exhibit "F" hereto, and which Covenant shall memorialize the Affordability Requirement; be intended and deemed to be a covenant running with the land; inure to the benefit of, and be binding upon, the parties' respective successors and assigns including, without limitation, subsequent owners of the Property and/or the Project; and be recorded in the public records in Miami -Dade County, Florida. Notwithstanding the preceding paragraph, if Owner sells, assigns, or otherwise transfers Parcel C and/or the Property prior to the issuance of a Building Permit for the HACMB Project, then the following conditions shall apply: a) If Parcel C and/or the Property is sold, assigned, or otherwise transferred to an individual /entity who /which intends to develop Parcel C as an affordable housing project, then Owner shall require such buyer /assignee /transferee (as applicable), as a condition of such sale, assignment, or transfer, to execute and record a Restrictive Covenant against the Property (substantially accordance with the form attached in Exhibit "F" hereto), requiring that the development on Parcel C be operated and maintained as an affordable housing throughout the Affordability Period; or b) If Parcel C and/or the Property is sold, assigned, or otherwise transferred to an individual /entity who /which intends to develop Parcel C for a main use other than an affordable housing project, then no Affordability Period or Restrictive Covenant shall be required. Notwithstanding the preceding, the requirement to grant the City Easement shall not be affected by any sale, assignment, or other transfer of the Property, or any portion thereof. Additionally, the -10- floor area ratio (FAR) of the City Easement Area, as identified herein as Parcels A and B, shall be utilized for the benefit of Parcel C. The FAR of Parcels A and B shall be utilized for the benefit of the owners of Parcel C. As consideration for Owner's agreement to execute, record, and deliver the Restrictive Covenant, as provided above, the City agrees to waive any Payment in Lieu of Taxes (PILOT) fees for the HACMB Project for such time as the Project is operated and maintained as an affordable housing project, up to a period of fifteen (15) years, commencing upon the issuance of a Certificate of Completion (C.C.) or Certificate of Occupancy (C.O.) for the Project; provided further, that in the event that the (i) HACMB Project does not require a variance (as contemplated in subsection 3.11(e) hereof); and (ii) A) either the City Commission does not amend the City's land development regulations (LDR's) by June 1, 2011 (as contemplated in Section 14.2 below) or, B) the City's Planning Director determines that the Project does not require any amendments to the LDR's, then the City agrees that the PILOT fee waiver period shall be automatically extended (without any further action required by either party) from the original fifteen (15) years, to a maximum of twenty -five (25) years (which new 25 year period will also be deemed to have commenced upon the issuance of a C.C. or C.O. for the Project). 14.2 Amendment to City's Land Development Regulations. The City Administration will prepare and present to the Mayor and City Commission, for its consideration at one of the Commission's regularly scheduled meetings, certain amendments to the City's land development regulations, relating to modifying minimum average unit size and parking requirements (including, without limitation, commercial, guest, and unit parking requirements) for affordable housing developments in the City of Miami Beach; which amendments, if approved, shall apply to the HACMB Project. Notwithstanding the preceding, Owner acknowledges that, the City shall not be obligated to approve any or all such amendments, whether as a condition of this Agreement or otherwise, and that any or all such approval(s) shall be at the Mayor and City Commission's sole discretion and judgment. 14.3 Notwithstanding subsections 14.1 and 14.2 hereof, in the event that the City elects not to proceed with the Closing and to terminate this Agreement on or before the Due Diligence Period, as provided in subsection 11.1 hereof, and provided further that the HACMB has submitted its application for a variance (in the event that the City's Planning and Zoning Director has previously deemed that the Project will require a variance) prior to receipt of the City's termination notice then, as consideration therefore, City agrees, and HACMB shall be entitled to, the PILOT fee waiver for the Project for the maximum twenty five (25) year period; commencing with the issuance of a Certificate of Completion (C.C.) or Certificate of Occupancy (C.O.) for such Project. The City's - 11 - obligation to waive the PILOT fees for Seller's project, as provided in this - Section 14.3, shall survive termination of this Agreement. 15. Reservation of Rights. This Agreement shall not affect any rights which may have accrued to any party to this Agreement under all applicable law and each party hereto reserves any and all such rights. 16. No Permit or Waiver of Fees. This Agreement is not and shall not be construed as a Development Permit, Development Approval, or authorization to commence development of the HACMB Project, nor shall it relieve Owner of the obligation to obtain all necessary Development Approvals, Development Permits, or any other approvals and/ or permits that are required under applicable law and under and pursuant to the terms of this Agreement. Except as otherwise expressly provided herein, nothing contained in this Agreement shall be deemed to constitute a waiver of any fee, charge, or cost imposed by the City in connection with the issuance of any Development Approval, Development Permit or any other approval and/or permit. 17. Good Faith; Further Assurances; No Cost. The parties to this Agreement have negotiated in good faith. It is the intent and agreement of the parties that they shall cooperate with each other in good faith to effectuate the purposes and intent of, and to satisfy their obligations under, this Agreement in order to secure to themselves the mutual benefits created under this Agreement; and, in that regard, the parties shall execute such further documents as may be reasonably necessary to effectuate the provisions of this Agreement; provided, that the foregoing shall in no way be deemed to inhibit, restrict or require the exercise of the City's police power or actions of the City when acting in a quasi - judicial capacity. Wherever in this Agreement a provision requires cooperation, good faith or similar effort to be undertaken at no cost to a party, the concept of no cost shall not be deemed to include any cost of review (whether legal or otherwise), attendance at meetings, hearings or proceedings and comment and/or execution of documents, all such costs to be borne by the party receiving a request to so cooperation, act, in good faith or so forth. 18. Consistency with the City's Master Plan. The City has adopted and implemented the Comprehensive Plan. The City hereby finds and declares that the provisions of this Agreement dealing with the HACMB Project are, or shall be, consistent with the City's adopted Comprehensive Plan and land development regulations (subject to all applicable Development Approvals). 19. Public Facilities and Concurrency. City and Owner anticipate the HACMB Project will be served by those roadway transportation facilities currently in existence as provided by state, County and local roadways. It is also anticipated that the Project will be served by public transportation facilities currently in existence, including those provided in Miami -Dade County, the City , and other governmental entities and may presently operate public transportation services within the City sanitary sewer, solid waste, drainage, and potable water services for the proposed Project are expected to be those services currently in existence and owned or operated by Miami -Dade County, the Miami Dade County Water and Sewer Department, and the City. The Project will also be - 12 - r serviced by any and all public facilities, as such are defined in Section 163.3221(12), _ Florida Statutes (1997), as such are described in the City's Comprehensive Plan. The foregoing, however, shall not be deemed to be an approval of, nor shall it be deemed to relieve Owner of the obligation to comply with Section 163.3180, Florida Statues (1997). (b) Owner shall be solely responsible for obtaining all final non - appealable land use permits, including, but not limited to, all permits and approvals required pursuant to Section 163.3180, Florida Statutes (1997), with respect to concurrency requirements for roads, sanitary sewer, solid waste, drainage, potable water, parks and recreation (the Concurrency Requirements). Owner shall apply to the appropriate governmental authorities for letter or other evidence that Owner is pursuing all applicable Concurrency Requirements, and shall diligently and in good faith pursue such letters or other evidence that the HACMB Project meets all applicable Concurrency Requirements. 20. Recording of Development Agreement. Within fourteen (14) days after the parties execute this Agreement, the City shall record this Development Agreement with the Clerk of the Circuit Court of Miami -Dade County. The Owner shall submit a copy of the recorded Agreement to the State of Florida's Land Planning Agency within fourteen (14) days after this Agreement is recorded. This Agreement shall become effective only after (i) it has been recorded in the Public Records of Miami -Dade County, and (ii) thirty (30) days have elapsed after the State of Florida Land Planning Agency's receipt of a copy of the recorded Agreement. Owner agrees that it shall be responsible for all recording fees and other related fees and costs related to the recording and delivery of this Agreement. The provisions hereof shall remain in full force and affect during the term hereto, and subject to the conditions of this Agreement, shall be binding upon the undersigned and all successors in interest to the parties to this Agreement. Whenever an extension of any material deadline is permitted or provided for under the terms of this Agreement, at the request of either party, the other party shall join in a short-form recordable Memorandum of Agreement confirming such extension to be recorded in the Public Records of Miami -Dade County. 21. Duration of Development Agreement. The duration of this Agreement shall not exceed fifteen (15) years from the Commencement Date; provided, however, that the duration of this Agreement may be extended by mutual agreement of the City and Owner. During the term of this Agreement, the City's laws and policies governing the development of land in effect as of the date hereof shall govem development of the Property. The City may apply subsequently adopted laws and policies to the HACMB Project only if the City has held a public hearing pursuant to Section 163.3 225, Florida Statutes, and determined: (a) they are not in conflict with the laws and policies governing this Agreement and do not prevent development of the land uses, intensities, or densities in this Agreement; or - 13 - (b) they are essential to- the public health, safety, or welfare, and expressly state that they shall apply to a development that is subject to a development agreement; or (c) they are specifically anticipated and provided for in this Agreement; or – — - (d) the City demonstrates that substantial changes have occurred in pertinent conditions existing a the time of approval of Agreement; or (e) this Agreement is based on substantially inaccurate information supplied by Owner. 22. Required Development Approvals. (a) Developer shall be solely responsible for obtaining, at its sole cost and expense, the Development Approvals listed in Exhibit "G" attached hereto. Notwithstanding the preceding, the City and Owner agree and acknowledge that the Development Approvals listed in Exhibit "G" hereto may not constitute a full listing and description of all local development approvals or permits needed to be approved for development of the HACMB Project, and that the omission of any other approval or permit (required for the development of the Project) from Exhibit "G" shall not relieve Owner of its sole obligation, whether under applicable law or this Agreement, to obtain same. 23. Intentionally omitted. 24. Public Reservations and/or Dedications. There are no reservations and/or dedications of land for public purposes that are proposed under this Agreement other than the City Easement. 25. Confirmation of Land Development Regulations. The zoning district classification of Parcel C is CD -2 (Commercial Medium Intensity), as defined in City's land development regulations. 26. Omissions. The parties hereto recognize and agree that the failure of this Agreement to address a particular permit, condition, term, or restriction shall not relieve the Owner of the necessity of complying with the law governing said permitting requirements, conditions, term, or restriction notwithstanding any such omission. 27. Notices. Any notices required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given if delivered by hand, sent by recognized overnight courier (such as Federal Express) or mailed by certified or registered mail, return receipt requested, in a postage prepaid envelope, and addressed as follows: -14- I - If to the City at: City of Miami Beach, City Hall 1700 Convention Center Drive _ Miami Beach, Florida 33139 Attn: City Manager - - -or If to Owner at: Housing Authority of the City of Miami Beach 200 Alton Road Miami Beach, Florida 33139 Attn: Executive Director 28. Indemnification of Owner. Owner hereby agrees to hold the City, its officers, employees, agents, contractors, and representatives harmless from any liability /or damage or claims for damage for personal injury, including wrongful death, and claims for property damage, which may arise from the direct or indirect activities and/or operations of Owner, or these of any officer, employee, agent, contractor, sub- contractor, or other person acting on Owner's behalf, which relate to the design, development, and construction of the HACMB Project. Owner agrees to, and shall afford at its sole cost and expense, the City and its officers, employees, agents, contractors, and representatives from any and all actions for damages caused, or alleged to have been caused, by reason of Owner's activities in connection with HACMB Project. This indemnification agreement applies to all damages and claims for damages including, without limitation, interest, costs and attorney's fees, outlined or alleged to have been suffered by reason of the activities and/or operations referenced herein. This indemnification shall not apply to the gross negligence or willful misconduct of the City, or of its officer's employees, agents, contractors, or representatives. The aforestated indemnification, and the provisions of this Section 28, shall survive expiration of this Agreement. 29. Events Of Default, Conditional Limitations, Remedies, Etc. Section 29.1 Definition. Each of the following events shall be an "Event of Default" hereunder: (a) if Owner shall default in the observance or performance of any term, covenant or condition of this Agreement on Owner's part to be observed or performed and, if no cure period is expressly provided for herein, Owner does not remedy such Default within thirty (30) days after notice by City of such Default (the "Default Notice "), or if such a Default is of such a nature that it cannot reasonably be remedied within thirty (30) days (but is otherwise susceptible to cure), and if, Owner does not (i) within thirty (30) days after the giving of such Default Notice, advise City of Owner's intention to institute all steps necessary (and from time to time, as reasonably requested by City, Owner shall advise City of the steps being taken) to remedy such default (which such steps shall be - 15 - ■ reasonably designed to effectuate the cure of such Default in a professional -- manner), and (ii) thereafter diligently prosecute to completion all such steps necessary to remedy the same; or (b) if Owner makes an assignment for the benefit of creditors; or (c) if Owner files a voluntary petition under Title 11 of the United States Bankruptcy Code, or if Owner files a petition or an answer seeking, consenting to or acquiescing in, any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future Federal bankruptcy code or any other present or future applicable Federal, state or other bankruptcy or insolvency statute or law, or seeks, consents to, acquiesces in or suffers the appointment of any trustee, receiver, custodian, assignee, sequestrator, liquidator or other similar official of Owner, of all or any substantial part of its properties, or of all or any part of Owner's interest in the Property and/or the HACMB Project, and the foregoing are not stayed or dismissed within one hundred fifty (150) days after such filing or other action; or (d) if, within one hundred fifty (150) days after the commencement of a proceeding against Owner seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under the present or any future Federal bankruptcy code or any other present or future applicable Federal, state or other bankruptcy or insolvency statute or law, such proceeding has not been dismissed, or if, within one hundred eighty (180) days after the appointment, without the consent or acquiescence of Owner, of any trustee, receiver, custodian, assignee, sequestrator, liquidator or other similar official of Owner, of all or any substantial part of its properties, or of all or any part of Owner's interest in the Property and/or the HACMB Project, such appointment has not been vacated or stayed on appeal or otherwise, or if, within one hundred eighty (180) days after the expiration of any such stay, such appointment has not been vacated. In the event of a Default which with the giving of notice to Owner and the passage of time would constitute an Event of Default, City's notice to Owner shall state with specificity the provision of this Agreement under which the Default is claimed, the nature and character of such Default, the facts giving rise to such Default, the date by which such Default must be cured pursuant to this Agreement, and, if applicable, that the failure of Developer to cure such Default by the date set forth in such notice will result in City having the right to terminate this Agreement. Notwithstanding the foregoing, no Event of Default shall be deemed to have occurred until such time as City shall have given Owner notice of the occurrence of an Event of Default. Notwithstanding anything to the contrary contained herein, City shall be entitled to seek any injunctive or other equitable relief that may be available to City during the pendency of any Default. -16- 29.2 Enforcement of Performance; Damages and Termination. If an Event of Default occurs, City may elect to (a) enforce performance or observance by Owner of the applicable provisions of this Agreement,- or (b) recover damages for breach of this Agreement ' g s Agre went or terminate this Agreement. City's election of a remedy hereunder with respect to an Event of Default shall not limit or otherwise affect City's right to elect any of the remedies available to City hereunder with respect to any other Event of Default. 29.3 Strict Performance. No failure by City or Owner to insist upon strict performance of any covenant, agreement, term or condition of this Agreement or to exercise any right or remedy available to such party by reason of the other party's default or an Event of Default, shall constitute a waiver of any such Default or Event of Default or of such covenant, agreement, term or condition or of any other covenant, agreement, term or condition. No covenant, agreement, term or condition of this Agreement to be performed or complied with by either party, and no default by either party, shall be waived, altered or modified except by a written instrument executed by the other party. No waiver of any Default or Event of Default shall affect or alter this Agreement, but each and every covenant, agreement, term and condition of this Agreement shall continue in full force and effect with respect to any other then existing or subsequent Default. Owner's compliance with any request or demand made by City shall not be deemed a waiver of Owner's right to contest the validity of such request or demand. 29.4 Right to Enjoin Defaults. In the event of Owner's Default or an Event of Default, City shall be entitled to seek to enjoin the Default or Event of Default and shall have the right to invoke any rights and remedies allowed at law or in equity or by statute or otherwise, except to the extent City's remedies are expressly limited by the terms hereof. In the event of City's Default or an Event of Default under this Agreement, Owner shall be entitled to seek to enjoin the default and shall have the right to invoke any rights and remedies allowed at law or in equity or by statute or otherwise, except to the extent Owner's remedies are expressly limited by the terms hereof. Each right and remedy of City and Owner provided for in this Agreement shall be cumulative and shall be in addition to every other right or remedy provided for in this Agreement or now or hereafter existing at law or in equity or by statute or otherwise, except to the extent City's remedies and Owner's remedies are expressly limited by the terms hereof, and the exercise or beginning of the exercise by City or Owner of any one or more of the rights or remedies provided for in this Agreement or now or hereafter existing at law or in equity or by statute or otherwise shall not preclude the simultaneous or later exercise by City or Owner of any or all other rights or remedies provided for in this Agreement or now or hereafter existing at law or in equity or by statute or otherwise, except to the extent City's remedies and Owner's remedies are expressly limited by the terms hereof. - 17 - 29.5 City's Default. In the event of any default by City hereunder, not caused by City Excusable Delays (as hereinafter defined) Owner shall give City written_ notice specifying such - default and City agrees to promptly commence the curing of such default and to cure such default within thirty (30) days after receipt of the aforesaid notice; provided, however, that if such default cannot reasonably be cured within said thirty (30) day period, then City shall cure any such default diligently and as quickly as reasonably practicable under the circumstances and shall have a reasonable period of time within which to cure such default so long as City is so proceeding. If City fails to cure any default during the applicable curative period, Owner, at any time after the expiration of such curative period, shall have the right to seek damages against City and/or to exercise any other remedy provided in this Agreement or available to Owner at law or in equity. As used herein, the term "City Excusable Delays" shall mean City's failure: to perform any obligation of City hereunder by reason of one or more of the following causes, to- wit, governmental restrictions, regulations or ordinances (other than those restrictions, regulations or ordinances over which City, as a governmental entity, exercises control), strikes, lockouts, acts of God,.- war, terrorism, riots, gross negligence or the willful misconduct of Owner, or any other cause, similar or dissimilar to the foregoing and whether or not now in the contemplation of the parties hereto, beyond the reasonable control of City, other than the financial inability of City, provided that City takes reasonable steps to so minimize the effect of any such circumstance, in which event the required period for City's performance for any obligation hereunder shall be extended for a period equal to the length of the delay caused by such Excusable Delays. City agrees to make a good faith effort to notify Owner of any Excusable Delays affecting the performance by City of its obligations under this Agreement and the estimated delay to result therefrom. 30. Liens. 30.1 Creation of Liens. (a) Owner shall not create, cause to be created, or suffer or permit to exist (1) any lien, encumbrance or charge upon this Agreement, the Property (including, without limitation, the City Easement Area), the HACMB Project, or the City Easement, or any part thereof or appurtenance thereto, which is not removed within the time period required pursuant to Section 30.2; (2) any lien, encumbrance or charge upon any assets of, or funds appropriated to, City; or (3) any other matter or thing whereby the West Avenue Bridge Project and or the City's interest in the Property (including, without limitation, the City Easement), or any part thereof or appurtenance thereto, might be materially impaired. (b) City shall not create, cause to be created, or suffer or permit to exist (i) any lien, encumbrance upon this Agreement, the City Easement Area, the West Avenue Bridge Project, or any part thereof or appurtenance thereto, which is not removed within the time period required pursuant to Section 30.2; (ii) any lien, encumbrance or charge -18- upon any assets of, or funds appropriated to, Owner; or (iii) any other matter or thing whereby Owner's interest in the Property, or the HACMB Project, or any part thereof or appurtenant thereto, might be materially impaired. 30.2 Discharge of Liens. - (a) If any mechanic's, laborer's, vendor's, materialman's or similar statutory lien (including tax liens, provided the underlying tax is an obligation of Owner is filed against the Property and/or the HACMB Project, or any part thereof, or if any public improvement lien created, or caused or suffered to be created by Owner shall be filed against any assets of, or funds appropriated to Owner, Owner shall, within thirty (30) days after Owner receives notice of the film of such mechanic's, laborer's, vendor's, Y g materialman's or similar statutory lien or public improvement lien, cause it to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. However, Owner shall not be required to discharge any such lien if Owner shall have (i) furnished City with, at Owner's option, a cash deposit, bond, letter of credit from an institutional lender (in form reasonably satisfactory to City) or other security (such as a personal guaranty or title company indemnity) reasonably satisfactory to City, in an amount sufficient to pay the lien with interest and penalties; and (ii) brought an appropriate proceeding to discharge such lien and is prosecuting such proceeding with diligence and continuity; except that if, despite Owner's efforts to seek discharge of the lien, City reasonably believes that a court judgment or order foreclosing such lien is about to be entered or granted and so notifies Owner, Owner shall, within ten (10) days of notice to such effect from City (but not later than three (3) business days prior to the entry or granting of such judgment or order of foreclosure), cause such lien to be discharged of record or City may thereafter discharge the lien and look to Owner for reimbursement of its cost in doing so. (b) Notwithstanding anything to the contrary contained in Section 30.2 (a), if any mechanic's, laborer's, vendor's, materialman's or similar statutory lien (including tax liens, provided the underlying tax is an obligation of Owner) is filed against the Property, or any part thereof (including, without limitation, the City Easement Area), or the HACMB Project, or the West Avenue Bridge Project, or City's interest in the Property (including, without limitation, the City Easement) as a result of any action of City, its officers, employees, representatives or agents, City shall, within thirty (30) days after City receives notice of the filing of such mechanic's, laborer's, vendor's, materialman's or similar statutory lien, cause it to be discharged of record by payment, deposit, bond, order of a court of competent jurisdiction or otherwise. However, City shall not be required to discharge any such lien if City shall have (i) furnished Owner with, at City's option, a cash deposit, bond, letter of credit from an Institutional Lender (in form reasonably satisfactory to Owner) or other security (such as a personal guaranty or title company indemnity) reasonably satisfactory to Owner, in an amount sufficient to pay the lien with interest and penalties and (ii) brought an appropriate proceeding to discharge such lien and is prosecuting such proceeding with diligence and continuity; except that if, despite City's efforts to seek discharge of the lien, Owner reasonably believes that a court judgment or order foreclosing such lien is about to be entered or granted and so notifies City, City shall, within ten (10) days of notice to such effect from Owner (but not later - 19- than three (3) business days prior to the entry or granting of such judgment or order of =- = _ foreclosure), cause such lien to be discharged of record or Owner may thereafter discharge the lien and look to City for reimbursement of its cost in so doing. 30.3 No Authority to Contract in Name of City. Nothing contained herein shall be deemed or construed to constitute the consent or request of City, express or implied, by implication or otherwise, to any contractor, - - subcontractor, laborer or materialman for the performance of any labor or the furnishing of any materials for any specific improvement of, alteration to, or repair of, the HACMB Project or any part thereof, nor as giving Owner any right, power or authority to contract for, or permit the rendering of, any services or the furnishing of materials that would give rise to the filing of any lien, mortgage or other encumbrance against the West Avenue Bridge Project or the City Easement, or City's interest in the Property (including, without limitation, the City Easement Area), or any part thereof, or against any assets of City. Notice is hereby given, and Owner shall cause all construction agreements to provide, that to the extent enforceable under Florida law, City shall not be liable for any work performed or to be performed on the HACMB Project, or any part thereof, for Owner, or for any materials furnished or to be furnished to the Project, or any part thereof, for any of the foregoing, and no mechanic's, laborer's, vendor's, materialman's or other similar statutory lien for such work or materials shall attach to or affect the West Avenue Bridge Project, the City Easement, or City's interest in the Property (including, without limitation, the City Easement Area), or any part thereof, or any assets of City. 31. Right To Perform The Other Party's Obligations. (a) If an Event of Default shall occur, City may, but shall be under no obligation to, perform the obligation of Owner the breach of which gave rise to such Default, without waiving or releasing Owner from any of its obligations contained herein, provided that City shall exercise such right only in the event of a bona fide emergency or after five (5) business days' notice, and Owner hereby grants City access to Parcel C and to the HACMB Project, as applicable, in order to perform any such obligation. (b) If a default by City under this Agreement shall occur and be continuing beyond any applicable grace period, Owner may, but shall be under no obligation to, perform the obligations of City (other than those which are governmental as opposed to proprietary obligations) the breach of which gave rise to such default, without waiving or releasing City from any of its obligations contained herein, provided that Owner shall exercise such right only in the event of a bona fide emergency or after five (5) business days' notice to City. 31.2 Reimbursement for Amounts Paid Pursuant to this Section. (a) Any amount paid by City in performing Owner's obligations, as provided in this Section, including all costs and expenses incurred by City in connection therewith, shall be reimbursed to City within thirty (30) days of City's demand, together with interest on amounts actually paid by City, calculated at the maximum allowable rate under Florida law, from the date of notice of any such payment by City to the date on which payment of such amounts is received by City. - 20 - (b) Any amount paid by Owner in performing City's obligations, as provided - in this Section, including all costs and expenses incurred by Owner in connection therewith, shall be reimbursed to Owner within thirty (30) days of Owner's demand, together with interest on amounts actually paid by Owner, calculated at the maximum allowable rate under Florida law, from the date of notice of any such payment by Owner to the date on which payment of such amounts is received by Owner. 31.3 Waiver, Release and Assumption of Obligations. (a) City's payment or performance pursuant to the provisions of this Section shall not be, nor be deemed to constitute, City's assumption of Owner's obligations to pay or perform any of Owner's past, present or future obligations hereunder. (b) Owner's payment or performance pursuant to the provisions of this Section shall not be, nor be deemed to constitute, Owner's assumption of City's obligations to pay or perform any of City's past, present or future obligations hereunder. 32. Intentionally omitted. 33. Force Majeure. Any prevention, delay or stoppage due to strikes, lockouts, labor disputes, acts of God, inability to obtain labor or materials or reasonable substitutes therefore, riot, civil commotion, fire or other casualty, and other causes beyond the reasonable control of the party obligated to perform, excluding the financial inability of such party to perform and excluding delays resulting from appeals or rehearings commenced by the Owner (any such causes or events to be referred to herein as a "Force Majeure"), shall excuse the performance by such party for a period equal to any such period of prevention, delay or stoppage. 34. Miscellaneous. (a) Counterparts. To facilitate execution, the parties hereto agree that this Agreement may be executed in counterparts as may be required and it shall not be necessary that the signature of, or on behalf of, each party, or that the signatures of all persons required . to bind any party, appear on each counterpart; it shall be sufficient that the signature of, or on behalf of, each party, or that the signatures of the persons required to bind any party, appear on one or more of such counterparts. All counterparts shall collectively constitute a single Agreement. (b) References. All references in the Agreement to the "Agreement" shall hereafter mean and refer to the Development Agreement. (c) Governing Law and Exclusive Venue. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Florida, both substantive and remedial, without regard to principles of conflict of laws. The exclusive venue for any litigation arising out of this Agreement shall be Miami Dade County, Florida, if in State court, and the U.S. District Court, Southern District of Florida, if in federal court. BY ENTERING INTO THIS AGREEMENT, CITY AND OWNER EXPRESSLY WAIVE ANY RIGHTS EITHER -21- PARTY MAY HAVE TO A TRIAL BY JURY OF ANY CIVIL LITIGATION RELATED TO, OR ARISING OUT OF, THIS AGREEMENT. _ (d) Waiver, Modification, etc. No covenant, agreement, term or condition of this Agreement shall be changed, modified _altered, waived or terminated except by a written instrument of change, modification, alteration, waiver or termination executed by City and Owner. No waiver of any Default or default shall affect or after this Agreement, but each and every covenant, agreement, term and condition of this - Agreement shall continue in full force and effect with respect to any other then existing or subsequent Default or default thereof. (e) Effect of Other Transactions. No mortgage, whether executed simultaneously with this Agreement or otherwise, and whether or not consented to by City, shall be deemed to modify this Agreement in any respect, and in the event of an inconsistency or conflict between this Agreement and any such instrument, this Agreement shall control. (f) Invalidity of Certain Provisions. If any provision of this Agreement or the application thereof to any Person or circumstances is, to any extent, finally determined by a court of competent jurisdiction to be invalid and unenforceable, the remainder of this Agreement, and the application of such provision to Persons or circumstances other than those as to which it is held invalid and unenforceable, shall not be affected thereby and each term and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law. (g) Remedies Cumulative. Each right and remedy of either party provided for in this Agreement shall be cumulative and shall be in addition to every other right or remedy provided for in this Agreement, or now or hereafter existing at law or in equity or by statute or otherwise (except as otherwise expressly limited by the terms of this Agreement), and the exercise or beginning of the exercise by a party of any one or more of the rights or remedies provided for in this Agreement, or now or hereafter existing at law or in equity or by statute or otherwise (except as otherwise expressly limited by the terms of this Agreement), shall not preclude the simultaneous or later exercise by such party of any or all other rights or remedies provided for in this Agreement or now or hereafter existing at law or in equity or by statute or otherwise (except as otherwise expressly limited by the terms of this Agreement). (h) Performance at Each Party's Sole Cost and Expense. - 22 - Unless otherwise expressly provided in this Agreement, when either party. - exercises any of its rights, or renders or performs any of its obligations hereunder, such party shall do so at its sole cost and expense. (i) Time is of the Essence. - Time is of the essence with respect to all matters in, and requirements of, this Agreement as to both City and Owner including, without limitation, the times within which City and Owner must commence and complete construction of, respectively, the West Avenue Bridge Project and the HACMB Project. (j) Successors and Assigns. The agreements, terms, covenants and conditions herein shall be binding upon, and inure to the benefit of, City and Owner, and, except as otherwise provided herein, their respective successors and permitted assigns. There shall be no assignment by Owner of its rights or obligations hereunder, or its interest in this Agreement, without the prior consent of the Mayor and City Commission which consent, if given at all, shall be at the City Commission's sole and reasonable discretion. (k) Notice of Defaults. Notwithstanding anything to the contrary set forth in this Agreement, under no circumstances shall any . party to this Agreement lose any right or benefit granted under this Agreement or suffer any harm as a result of the occurrence of any Default or default of such party as to which Default or default such party has not received notice thereof from the other party. (1) Corporate Obligations. It is expressly understood that this Agreement and obligations issued hereunder are solely corporate obligations, and, that no personal liability will attach to, or is or shall be incurred by, the incorporators, stockholders, officers, directors, elected or appointed officials (including, without limitation, the Mayor and City Commission of the City and the Chairman and Members of the HACMB) or employees, as such, of City or Owner, or of any successor corporation, or any of them, under or by reason of the obligations, covenants or agreements contained in this Agreement or implied therefrom; and, that any and all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such incorporator, stockholder, officer, director, elected or appointed officials (including, without limitation, the Mayor and City Commission of the City and the Chairman and Members of the HACMB) or employee, as such, or under or by reason of the obligations, covenants or agreements contained in this Agreement or implied therefrom, are expressly waived and released as a condition of, and as a consideration for, the execution of this Agreement. (m) Nonliability of Officials and Employees. - 23 - No member, official or employee of City shall - be personally liable to Owner, or - . _ any successor in interest, in the event of any default or breach by City or for any amount or obligation which may become due to Owner or successor under the teems of this Agreement; and, any and all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such person, under or by reason of the obligations, covenants or agreements contained in this Agreement or implied therefrom, are expressly waived and released as a condition of, and - - as a consideration for, the execution of this Agreement. No member, official or employee of Owner shall be personally liable to City, or any successor in interest, in the event of any default or breach by Owner or for any amount or obligation which may become due to City or successor under the terms of this Agreement; and, any and all such personal liability, either at common law or in equity or by constitution or statute, of, and any and all such rights and claims against, every such person, under or by reason of the obligations, covenants or agreements contained in this Agreement or implied therefrom, are expressly waived and released as a condition of, and as a consideration for, the execution of this Agreement. (n) Partnership Disclaimer. Owner acknowledges, represents and confirms that it is an independent contractor in the performance of all activities, functions, duties and obligations pursuant to this Agreement. The parties hereby acknowledge that it is not their intention to create between themselves a partnership, joint venture, tenancy in common, joint tenancy, or co ownership for the development by Owner of the HACMB Project, the development by City of the West Avenue Bridge Project, or for any other purpose whatsoever. Accordingly, notwithstanding any expressions or provisions contained herein, nothing in this Agreement, or the other documents executed by the parties with respect to the HACMB Project or the West Avenue Bridge Project, shall be construed or deemed to create, or to express an intent to create, a partnership, joint venture, tenancy -in- common, joint tenancy, or co- ownership of any kind or nature whatsoever between the parties hereto. The provisions of this subsection (n) shall survive expiration of this Development Agreement. (o) No Third Party Rights. Nothing in this Development Agreement, express or implied, shall confer upon any person, other than the parties hereto and their respective successors and assigns, any rights or remedies under or by reason of this Agreement. (p) No Conflict of Interest. Owner represents and warrants that, to the best of its actual knowledge, no member, official or employee of the City has any direct or indirect financial interest in this Agreement nor has participated in any decision relating to this Agreement that is prohibited by law. Owner represents and warrants that, to the best of its knowledge, no - 24 - officer, agent, employee or representative of the City has received any payment or other consideration for the making of this Agreement, directly or indirectly, from Owner.- - Owner represents and warrants that it has not been paid or given, and will not pay or = . give, any third person any money or other consideration for obtaining this Agreement, other than normal costs of conducting business and costs of professional services such as_ -_ - - _ - architects, engineers, and attorneys. Owner acknowledges that Owner is relying upon the - -- - - -- - foregoing representations and warranties in entering into this Agreement and would not - enter into this Agreement absent the same. 35. Entire Agreement. This Agreement, together with the documents referenced herein, constitute the entire agreement and understanding among the parties with respect to the subject matter hereof, and there are no other agreements, representations or warranties other than as set forth herein. This Agreement may not be changed, altered or modified except by an instrument in writing signed by the party against whom enforcement of such change would be sought and .subject to the requirements for the amendment of development agreements in the Act. [REMAINDER OF PAGE LEFT INTENTIONALLY BLANK] - 25 - EXECUTED as of the date first above written in several counters, each of which shall be deemed an original, but all constituting only one agreement. Signed, sealed and delivered CITY OF MIAMI BEACH, in the presence of: a Florida municipal corporation /' By: /41/ /, i� . � ✓ / Name: ' ' i G Attest: k:O44 fg Robert Parcher, City Clerk Signed, sealed and delivered WNER/HOUSING AUTHORITY OF in the presence of: T ITY OF MIAMI B : ACH By: �I Name: Miguell Del a , pil Executive Director Attest ! By: ,. 1 �� r HACMB General Counsel City of Miami Beach - City Attorney Approved as to Form & Language Approved as to Form & Language & for Execution & forExecution v A. Boutsis A iicreow - 26 - I I - _ k3 __ ls. - — l - _vrr STATE OF FLORIDA ) _ 4 - )SS: COUNTY OF DADE } The foregoing instrument was acknowledged before me this day of _ _ _. 2011 by Miguell Del Campillo as Contracting Officer and Executive Director of the Housing Authority of the City of Miami Beach and o ! behalf of the A I ority. He /She is personally known to me and who did (did not) take an ath. At ■ A L • TARY PUBLIC OPMESA- k)-(1-40i)01 Typed or Printed Name of Notary My Commission expires: " ,ao ‘ l Serial No., if any: Q q S G NOTARY PUBS. ;C•STATE OF FLORIDA " Vanesa G. Naveros 1 = Commission # DD956367 OFFICIAL NOTARY SEAL Expires: FEB. 14, 2014 STATE OF FLORIDA ) BONDED THRU ATLANTIC BONDING CO., arc. ) SS: COUNTY OF DADE ) The foregoing instrument was acknowledged before me this /3" day of >214 2011, by / 2, /1-j /1 - as Mayor of the City of Miami Beach, a municipal corporation, on behalf of the City. He /She is personally known to me or has produced as identification and who did (did not) take an oath. i • TARY PUBLIC Ji fi om � 1-17q4 de/ Typed or Printed Name of Notary My Commission expires: Serial No., if any: OFFICIAL NOTARY SEAL \ �, \`�AM R ! N4 , * �epuary re •, <P SZ. te ; •► • 0 832 ;* A GB ••• 4i� t e: • Q' STATE OF \ �QT - 27- I' r..... ,. ,.. , , .. ..... i:': • -. „� s... �,.. ,. aT°v.�„ �, .e,+,�y�pMrn -,wt , �:'a'^9�R�$J�r+;gS� +° '�+nn,... A ^.�A .Y ^S � „�. �...,� • EXB BIT "A” PROPERTY SKETCH [CITY TO ATTACH] • • • • • • _ 28_ LEGAL DESCRIPTION PARCEL "A" Portion of Lot 11, Block 41, plat of BELLEVIEW SUBDIVISION, recorded in Plat Book 6 at Page 114, Public Records of Miami —Dade County, Florida, together with portion of Lot 9, Block 17, plat of SUBDIVISION OF THE WEST HALF OF BLOCKS 17, 40 AND 45, recorded in Plat Book 6 at Page 165, Public Records of Miami —Dade County, Florida. Said portion of land being more particularly described as follows: Begin at the most northerly corner of said Lot 11, Block 41, Said point being the POINT OF BEGINNING of the Tract of Land herein described; thence North 59° 44' 44" East, along the North line of the above mention Lot 9, Block 17, for a distance of 19.33 feet; thence due South for a distance of 72.62 feet to a point of tangency; thence along the arc of a curve concave to the northwest, having a central angle of 52° 17' 19 "' and a radius of 25.00 feet for a distance of 22.82 feet; thence North 73° 05'29" West for a distance of 103.56 feet to the point of intersection with the northwesterly line of the above mentioned Lot 11. Said point of intersection being 94.00 feet southwesterly of the most northerly corner of said Lot 11; thence North 59° 44' 44" East, along the northwesterly line of said Lot 11, for a distance of 94.00 feet to the POINT OF BEGINNING. Said lands located in the City of Miami Beach, Florida and containing 4622.15 square feet more or less or 0.1060 acres more of less. PARCEL "B" • Begin at the most northerly corner of Lot 9 Block 17, plat of SUBDIVISION OF THE WEST HALF OF BLOCKS 17, 40 AND 45, recorded in Plat Book 6, at Page 165 Public Records of Miami —Dode County, Florida. Said point being the POINT OF BEGINNING of the tract of and herein described; thence North 59° 44' 44" East, along the North line of said Block 17 for a distance of 12.24 feet; thence due South for a distance of 117.57 feet to o point of tangency; thence along the arc of a curve concave to the northeast, hoving o central angle of 90 °00' 00" and a radius of 25.00 feet, for o distance of 39.27 feet to a point of tangency with the north right —of —way line of 17 Street, as 17 Street is shown in the above mentioned plat of SUBDIVISION OF THE WEST HALF OF BLOCKS 17, 40 and 45; thence due west, along the north right —of —way line of 17 Street, for a distance of 10.00 feet to a point of tangency; thence along the arc of a curve concave to the southeast, having a radius of 85.00 feet and a central angle of 30° 20'48" for a distance of 45.02 feet; thence northwesterly, radial to the last described curve for a distance of 13.62 feet to a point. Said point described in OFF REC. 16504, at page 3553 Public Records of Miami —Dade County, Florida; thence North 73° 05'29" West for a distance of 41.66 feet; thence along the are of a curve whose radius at this point bears North 52° 17'19" West, having a radius of 25.00 feet and a central angle of 52° 17'19" for o distance of 22.82 feet to a point of tangency; thence due north for a distance of 72.62 feet to the point of intersection with the northwesterly line of the above mentioned Lot 9, Block 17; thence North 59° 44'44" East, along the northwesterly line of said lot 9 for a distance of 73.07 feet to the POINT OF BEGINNING. Said lands located in the City of Miami Beach, Florida and containing 9001.65 square feet more or less or 0.2066 acres more or less. PARCEL "C" Lot 7, Block 17, Plat of SUBDIVISION OF WEST HALF OF BLOCKS 17, 40 AND 45, recorded in Plat Book 6, at Page 165, Public Records of Miami —Dade County, Florida, Together with portions of Lots 8 and 9 of said Block 17 being more particularly described as follows: Begin at the most northerly corner of said Lot 8, Block 17. Said point being the POINT OF BEGINNING of the tract of land herein described; thence South 59° 44' 44" West, along the northerly line of said Lot 8 for a distance of 67.76 feet; thence due South for a distance of 117.57 feet to point of tangency; thence along the arc of a curve concave to the northeast, having a central angle of 90° 00' 00" and a radius of 25.00 feet for a distance of 39.27 feet to a point of tangency. Said point being in the north right —of —way line of 17 Street, as shown in the above mentioned plat of SUBDIVISION OF WEST HALF OF BLOCKS 17, 40 AND 45; thence due East along the north right— of— way line of 17 Street for a distance of 65.00 feet to a point. Said point being the southeast corner of the above mentioned Lot 8, Block 17; thence bearing N 9° 4'21"W along the East line of said Lot 8 for a distance of 175.10 feet to the POINT OF BEGINNING. Said lands located in the City of Miami Beach, Florida and containing 26,953 square feet more of less or 0.6187 acres more or less. I HEREBY CER11FY: that this SKETCH TO ACCOMPANY A LEGAL DESCRIP110N is correct and meets the Minimum Technical Standards LEGEND & ABBREVIATIONS: for Land Surveying in the State of Florida as set forth in Cttopter 472.027 (F.S.) and Chapter 61G17 -6 of the Florid° ' ' ist 9tive Code. CENTER LINE R RADIUS ARC LENGTH R/W RIGHT —OF —WAY C&G CURB AND GUTTER POB POINT OF BEGINNING . VAR 'A" CENTRAL ANGLE .Y SURVEYOR P.B. PLAT BOOK P.O.B. POINT OF BEGINNING P. PAGE 11/19/2005 No. 291 DATE `TAT_ OF FLORIDA F: \WORK \$ALL \GAD --DWG PROJECTS \SM \$M2006KK -17ST &WEST AVE. CITY OF MIAMI REVISED NEIGHBORHOOD NO.9 CITY CENTER BEACH APPROVED • VICINITY OF WEST AVENUE EC -01 PUBLIC WORKS 12/4/2008 AND DADE BOULEVARD DEPARTMENT SHEET _t_ OF 2 NOTE: CD 1 Record Plats and best information available was , 1— 0 used for this "SKETCH TO 1. 37.50' 37.50' o m ''-"''' ACCOMPANY A LEGAL ' DESCRIPTION ". Bearings > / refer to assumed due Q north at the center line � of West Avenue. This is T �� � • y not a survey. ,,,,,\.,'D / 2 0 PO /// / -\'''\\ GP -. •/ / GO e Q° g ,o / / N59 44'44 ° E •� 12.24 ��0 $0 LL.! S i m, g ' \ W / , °1z o U ° A ° A� cV %, / �% �C O Q J ' �.� 4 j / y � PARCEL 04 W -- 1 ,. // / / 2, 1X5' LOT 11, BLOCK 41 P.B.6, P 114 ° , j 4 I f `� / EL w % BLOCK 17 (P.B. 8, P. 165) C PARCEL / / its5 , ° /,,,,„'l A( R 17'19 �2 ° . � LOT 8 LOT 7 0 3.56. L =22.8 D� N73 . i, o-90; t C, qC 1 r ,.:� 05, , / / R =25 STATE OF FLORIDA DEPARTM �� �F � 9 � G L= 39.27' P ATION SECTION lqs - / OF T OF ORT �? -� � 87512 2803 / � / , �3• /� 20 R jam, ---_____. - - ' '• V// .. / /ii 80' 80' /141' h� M • 10 WEST �_ 2' C.&G 1 PORTION DESCRIBED IN WARRATY A .,30 20'48' ' M In DEED PLAZA PROPERTIES R =85' LTD.(GRANTOR) HOUSING L =45.02" AUTHORITY OF THE CITY OF MI • 1 BEACH (GRANTEE) OFF.REC. 16 '44 � PAGE 3553 x s. 1 7th S T R ET i W AR � W Parent Tract 40,576.80 Sq.Ft. or 0.9315 AC. °,�� Parcel "A" 4,622.15 Sq.Ft. or 0.1060 AC Q Parcel "B" 9,001.65 Sq.Ft. or 0.2066 AC I— Parcel "C" 26,953 Sq.Ft. or 0.6187 AC. 1 (!) , W SCALE: 1" = 60' I F: \WORK \SALL \CAD -DWG\ PROJECTS \SM \SM2006KK __17ST&WEST AVE. CITY OF MIAMI REVISED NEIGHBORHOOD NO.9 CITY CENTER BEACH APPROVED • VI CI N I TY OF WEST AVENUE EC -02 • PUBLIC WORKS 12/4/2008 DEPARTMENT AND DADE BOULEVARD SHEET OF 2 LEGAL DESCRIPTION PARCEL "A" Portion of Lot 11, Block 41, plat of BELLEVIEW SUBDIVISION, recorded in Plot Book 6 at Page 114, Public Records of Miami —Dade County, Florida, together with portion of Lot 9, Block 17, plat of SUBDIVISION OF THE WEST HALF OF BLOCKS 17, 40 AND 45, recorded in Plat Book 6 at Page 165, Public Records of Miami —Dade County, Florida. Said portion of land being more particularly described as follows: Begin at the most northerly corner of said Lot 11, Block 41, Said point being the POINT OF BEGINNING of the Tract of Land herein described; thence North 59° 44' 44" East, along the North line of the above mention Lot 9, Block 17, for a distance of 19.33 feet; thence due South for a distance of 72.62 feet to a point of tangency; thence along the arc of a curve concave to the northwest, having a central angle of 52° 17' 19" and a radius of 25.00 feet for a distance of 22.82 feet; thence North 73° 05'29" West for a distance of 103.56 feet to the point of intersection with the northwesterly line of the above mentioned Lot 11. Said point of intersection being 94.00 feet southwesterly of the most northerly corner of said Lot 11; thence North 59° 44' 44" East, along the northwesterly line of said Lot 11, for a distance of 94.00 feet to the POINT OF BEGINNING. Said lands located in the City of Miami Beach, Florida and containing 4622.15 square feet more or less or 0.1060 acres more of less. PARCEL "B" Begin at the most northerly corner of Lot 9 Block 17, plat of SUBDIVISION OF THE WEST HALF OF BLOCKS 17, 40 AND 45, recorded in Plat Book 6, at Page 165 Public Records of Miami —Dade County, Florida. Said point being the POINT OF BEGINNING of the tract of land herein described; thence North 59° 44' 44" East, along the North line of said Block 17 for a distance of 12.24 feet; thence due South for a distance of 117.57 feet to a point of tangency; thence along the arc of a curve concove to the northeast, having a central angle of 90 °00' 00" and a radius of 25.00 feet, for a distance of 39.27 feet to a point of tangency with the north right —of —way line of 17 Street, as 17th Street is shown in the above mentioned plat of SUBDIVISION OF THE WEST HALF OF BLOCKS 17, 40 and 45; thence due west, along the north right —of —way line of 17 Street, for a distance of 10.00 feet to a point of tangency; thence along the arc of a curve concave to the southeast, having a radius of 85.00 feet and a central angle of 30° 20'48" for a distance of 45.02 feet; thence northwesterly, radial to the last described curve for a distance of 13.62 feet to a point. Said point described in OFF REC. 16504, at page 3553 Public Records of Miami —Dade County, Florida; thence North 73° 05'29" West for a distance of 41.66 feet; thence along the are of a curve whose radius at this point bears North 52° 17'19" West, having a radius of 25.00 feet and o central angle of 52° 17'19" for a distance of 22.82 feet to a point of tangency; thence due north for a distance of 72.62 feet to the point of intersection with the northwesterly line of the above mentioned Lot 9, Block 17; thence North 59° 44'44" East, along the northwesterly line of said lot 9 for a distance of 73.07 feet to the POINT OF BEGINNING. Said lands located in the City of Miami Beach, Florida and containing 9001.65 square feet more or less or 0.2066 acres more or less. PARCEL "C" Lot 7, Block 17, Plat of SUBDIVISION OF WEST HALF OF BLOCKS 17, 40 AND 45, recorded in Plot Book 6, at Page 165, Public Records of Miami —Dade County, Florida, Together with portions of Lots 8 and 9 of said Block 17 being more particularly described as follows: Begin at the most northerly corner of said Lot 8, Block 17. Said point being the POINT OF BEGINNING of the tract of land herein described; thence South 59° 44' 44" West, along the northerly line of said Lot 8 for a distance of 67.76 feet; thence due South for a distance of 117.57 feet to point of tangency; thence along the arc of a curve concave to the northeast, having a central angle of 90° 00' 00" and a radius of 25.00 feet for a distance of 39.27 feet to a point of tangency. Said point being in the north right —of —way line of 17 Street, as shown in the above mentioned plat of SUBDIVISION OF WEST HALF OF BLOCKS 17, 40 AND 45; thence due East along the north right— of— way line of 17"' Street for a distance of 65.00 feet to a point. Said point being the southeast corner of the above mentioned Lot 8, Block 17; thence bearing N 9° 4'21"W along the East line of said Lot 8 for a distance of 175.10 feet to the POINT OF BEGINNING. Said lands located in the City of Miami Beach, Florida and containing 26,953 square feet more of less or 0.6187 acres more or less. I HEREBY CERTIFY: that this SKETCH TO ACCOMPANY A LEGAL DESCRIPTION is correct and meets the Minimum Technical Standards LEGEND & ABBREVIATIONS: for Land Surveying In the State of Florida be set 'forth in Chapter 472.027 (F.S.) and Chapter 61G17 —E of the Flair •a dministrative Code. CENTER LINE R RADIUS L ARC LENGTH R/W RIGHT —OF —WAY C&G CURB AND GUTTER POB POINT OF BEGINNING J A CENTRAL ANGLE P.B. PLAT BOOK CITY SURVEY P.O.B. POINT OF BEGINNING P. PAGE 11/19/2008 F.VA, No. 2016 DATE STATE OF FLORIDA F: \WORK \$ALL\CAD —DWG\ PROJE ; TS \SM \SM2006KK - -17ST &WEST AVE. CITY OF MIAMI REVISED NEIGHBORHOOD NO.9 CITY CENTER BEACH APPROVED • VICINITY OF WEST AVENUE EC -01 PUBLIC WORKS 12/4/2008 AND DADE BOULEVARD DEPARTMENT SHEETL OF 2 . . i I Q NOTE: co Record Plats and best information available was U � f— o used for this "SKETCH TO 37.50' - 37.50' o m ACCOMPANY A LEGAL I ' � / DESCRIPTION ". Bearings > / refer to assumed due \1 north at the center line w �� of West Avenue. This is T �6 ›o • not a survey. �� / 2 S) , " "C)IC ..- / GP �/ / / GO QO /N o; / 1 0. N59 44'44 "E ..t1 1 / 12.24' 54 AI' IP L� LLJ o / ' , � LLJ N 1— � / K � �z d U j ,5 Q Z ;„ , _ :. ,,, \ EL -, 0 9h. 40 '. �% PARCEL C ' o QJ � �r. j j �i N c Z csi /� a? f cV E � LOT 11, BLOCK 41 Ail !� n' / r / 17 (PB6< LOT 8 3.SB. L -2 28 °°=D X73' � � o -90r RIGHT OF WAY MAP C ' 4 C� � .:r. O S 2 9, , �� , R =25' OF A TRASNPORATION SECTION 1 22. //� / R / � L =39.27 87512 2803 / �' �, i /'/ i 'I,. / /ice,,. `i _ 80' 60 . 20 R/W— — — P •ice r _— = 62.50' 5 WALK — — a`g`1 / , M sUE WEST ---- 2' C.d&G f PORTION DESCRIBED IN WARRATY ' 10' DEED PLAZA PROPERTIES R=85' 20.48' "� R =85' LTD.(GRANTOR) HOUSING L= 45.02" AUTHORITY OF THE CITY OF MI • _ BEACH (GRANTEE) OFF.REC. 16 •'.4 I '-7 ' ■ -----......... PAGE 3553 .;1'0• 17th STREET W Z z AREA of W Parent Tract 40,576.80 Sq.Ft. or 0.9315 AC. ,,,>,. Parcel "A" 4,622.15 Sq.Ft. or 0.1060 AC < I Parcel "B" 9,001.65 Sq.Ft. or 0.2066 AC /2' 1 Parcel "C" 26,953 Sq.Ft. or 0.6187 AC. • W C ALE: 'I' = 60' 1 i F• \WORK\' ALL \CAD - -- DWG \ PROJECTS \ %A\ SM2006KK-- 1 AVE. CITY OF MIAMI REVISED NEIGHBORHOOD NO.9 CITY CENTER BEACH APPROVED VICINITY OF WEST AVENUE EC -02 PUBLIC WORKS 12/4/2008 DEPARTMENT AND DADE BOULEVARD SHEET _2_ OF 2 EXI-11BIT "B" v3r _ PURCHASE AND SALE AGREEMENT - 29 -